Galaxy Entertainment Group reports 11% increase in Q1 revenue to HK$12.4bn

Galaxy Entertainment Group has published its Q1 report for the period ending 31 March 2026. 

Group revenue rose 11% year-on-year during this period to HK$12.4bn (US$1.6bn), while adjusted EBITDA grew 8% to HK$3.6bn. 

This was split between HK$10bn in revenue from gaming, and HK$1.7bn from non-gaming operations.

The adjusted EBITDA for the last 12 months has risen 17% compared to the previous period for a total of HK$14.8bn. 

Galaxy properties

When looking at individual properties, Galaxy Macau was a key driver for the business, pushing a 13% improvement in net revenue to HK$10.3bn. 

Adjusted EBITDA here increased 11% to HK$3.3bn, and hotel occupancy throughout Q1 was 99%. 

On 10 Feb, Galaxy Macau opened its new Capella luxury penthouses, as well as four additional private gaming salons.

At StarWorld Macau, net revenue grew 8% to HK$1.3bn, while adjusted EBITDA increased 9% to HK$383m. Hotel occupancy was 100% during this period. 

StarWorld has also seen gaming floors one and three renovated, with all hotel room renovations estimated to be completed by 2027.

Construction at Cotai is continuing, and customer feedback has led Galaxy to pivot towards larger, more luxurious rooms at the property. Phase four is targeted to be completed in 2027.

Chairman’s comments

Francis Lui, GEG Chairman, said: “World-class entertainment shows and sporting events continued to play a key role in attracting both new and repeat customers to Macau. 

“In the first quarter, GEG hosted over 80 concerts, entertainment shows, sporting and other events, including performances by Chinese artist Dylan Wang, the return of Jimmy O. In addition, the prestigious ITTF World Cup Macao was once again hosted by GEG at the Galaxy Arena during 30 March to 5 April. 

“This major sporting event experienced overwhelming demand and reinforced Macau’s position as a premier destination for global sporting events. Subsequently, we hosted Weibo International 
Entertainment Awards (WIEA) in April and the tour concerts by Chinese singer-songwriter Hailai 
Amu and K-Pop’s leading band DAY6 in early May.”

The bigger Macau picture

During Q1 2026, Macau’s GGR rose 14% to HK$64bn, mostly helped by the 11.2 million visitor arrivals. 

Mainland visitor arrivals grew 16% to 8.4 million, while Individual Visit Scheme visitors rose 18% to 4.8 million.

International visitors increased 11% to 0.8 million, driven by a 71% increase from Thailand, 41% from India and 7% boost from the US.

Overall, these figures are a 108% increase from 2019’s figures, meaning that Macau may have finally recovered from the pandemic.

In the first week of May, during Chinese Golden Week, Macau set a new record for single-day arrivals and welcomed 873,000 visitors during this week alone.